Why were crypto assets deemed unsuitable for me?

  • Updated

New Canadian regulations require all Canadian investors to answer a few questions about your risk and financial profile, in order to determine whether investing in digital assets are suitable for you. This is for your own protection, to ensure that those who don't have the risk appetite or financial situations don't risk their money investing into a high risk asset class.

How is my suitability determined?

We assess your responses to the Risk Profile and Financial Profile questions according to the Canadian regulatory framework, to determine whether investing in crypto assets are suitable.

Can I still open an account?

If you were deemed unsuitable based on an assessment of your responses, unfortunately we are not able to open a Bitbuy account for you. 

What happens to my existing account if I was deemed unsuitable?

If you were deemed unsuitable based on an assessment of your responses, you can still deposit, withdraw, and sell fiat and crypto. However we can no longer allow any further purchases of crypto.

What can I do now?

It is recommended that you learn more about the risks of crypto assets and what kind of risks are acceptable given your financial situation before considering further crypto investments. A Bitbuy representative will reach out to you for more information.

If you believe you were deemed unsuitable by error, you can submit a support ticket here.

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